Omega, the 161-year-old Swiss watch brand which is part of Swatch Group’s Luxury and Prestige division, has opened a 9,800-square-foot flagship at 711 Fifth Avenue in New York City. The store comes three years after the opening of Omega’s first U.S. outpost in Beverly Hills and is located in the old Dunhill space.

This is the brand’s 51st freestanding store, located close to the Escada and Disney stores. Further expansion plans are in the works for Omega, with more stores slated to open over the next few years. Locations are being considered in Nevada, Texas and Florida. Given that the luxury watches retail for between $3,000 and $7,000, one may question the potential success of the store.

However, Omega president Stephen Urquhart noted that Omega started out 10 years ago as small shops within other shops, and then expanded. He believes that the store’s zen design is in keeping with the brand and what consumers are looking for, adding that despite the fact that they must master an enormous challenge with the current economy, this store will boost their image and wholesale sales.

The marbled first floor of the boutique has private selling rooms and a coffee bar, while the second floor has the museum and jewelry collections, customer service and the watchmaker workroom.